Returning to ‘economics 101’ principles key to rebounding, growth
August 30, 2011
World economies that are either stagnant or not growing as much as they should need to go back to basics, build upon their resources and take stock of what they have to offer the rest of the planet to be able to move forward.
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SBA, EDB offer loans to cover Irene-related losses
August 30, 2011
The U.S. Small Business Administration and the Economic Development Bank announced Monday the availability of emergency and disaster loans for small and mid-sized businesses, as well as homeowners, whose property was either lost or damaged by Hurricane Irene.
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Irene triggers $500M to $1.1B in insured losses in Caribbean, analyst says
August 27, 2011
Boston-based AIR Worldwide estimated Friday that insured losses in the Caribbean from Hurricane Irene will reach between $500 million and $1.1 billion, with the Bahamas accounting for more than 60 percent of the insured loss.
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20K OneLink customers still in the dark
August 26, 2011
As of Friday morning, some 20,000 OneLink Communications customers still had no service in the wake of storm Irene, company officials said.
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Bankrupt Caribe Media to transfer corporate control to lenders
August 24, 2011
Three months after filing for Chapter 11 bankruptcy protection, Caribe Media Inc., the majority owner of Axesa Servicios de Información, which publishes the “official” yellow and white pages directories in Puerto Rico, has given control of the company to its lenders, Bloomberg reported Tuesday.
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BBVA Research: LatAm economy to grow 4.8% in ’11, P.R. recovery lagging
August 22, 2011
The Latin American economy will grow 4.8 percent this year, converging at rates of around 4 percent in 2012 and 2013, slightly above BBVA Research’s prior forecast, due to high commodity prices and stronger domestic demand than anticipated in some countries, Joaquín Víal, chief researcher for the organization’s South American unit.
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Flurry of cancellations as P.R. braces for Tropical Storm Irene
August 21, 2011
As Tropical Storm Irene cut across Puerto Rico Sunday, the private sector shut down most operations late in the day and called off numerous activities for Monday. Following is a sector-by-sector roundup of cancellations.
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P.R. jobless rate stands at 16.3% in July
August 20, 2011
The Puerto Rico Labor Department said Friday that the island’s unemployment rate for the month of July clocked in at 16.3 percent, reflecting a year-over-year drop of 0.6 percentage points, but a 1.1 percentage point increase when compared to June.
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Colorado’s Chamber of the Americas plans trade mission to P.R.
August 18, 2011
The Chamber of the Americas, a nonprofit organization based in Colorado, will be sponsoring a trade and development mission to the island next month, when it will offer a series of seminars on how to do business in Puerto Rico, the organization announced.
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Former PRT exec Escudero named new TRB member
August 17, 2011
Gloria Escudero-Morales, sister of Port Authority Executive Director Alberto Escudero, has been named associate member of the Telecommunications Regulatory Board, succeeding outgoing member Vicente Aguirre-Iturino, News is my Business has learned.
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AT&T mulls divesting $8B in properties, T-Mobile P.R. could fetch $300M-$500M if sold
August 16, 2011
It has been nearly a month since the Federal Communications Commission stopped the clock on its 180-day timeline to approve the proposed $39 billion AT&T acquisition of rival T-Mobile.
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e-Health Connectivity Expo to explore virtues of medical records
August 15, 2011
Are you one of those people who, when you get sick, cringe at the thought of spending an entire day going from specialist to specialist, hauling a pile of papers and X-rays documenting your medical history and test results, just to find out what your health issue may be?
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INTENE looks to brand 10-town region it represents
August 15, 2011
The Northeastern Technological Initiative, known as INTENE, is looking to establish a marketing identity for the 10-town region it represents through the recent launch of the “Name the eastern tourism region” campaign. The effort is one component of a multi-pronged plan the nonprofit group has to boost economic activity along the island’s northeastern flanks.
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PREPA: June energy consumption generates $434.6M in revenue
August 12, 2011
The Puerto Rico Electric Power Authority generated more than $434.6 million in revenue from island residential and commercial consumers, who burned through more than 1.5 billion kilowatt-hours of energy in June, the start of the sweltering summer season.
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Planning Board green-lights $477M in projects in 4Q ’11
August 11, 2011
The Puerto Rico Planning Board approved an investment of more than $477.2 million in new development projects between April and June that aside from generating new construction, will also create 1,042 jobs, agency President Rubén Flores-Marzán said.
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